India ranked second in pig iron production

In the first half of 2024, global pig iron production declined slightly by 1.8% compared to the same period of the previous year, totaling 704.01 million tons. According to data from the World Steel Association, production in June was 119.44 million tons, down 3.7% from the previous month and down 1.9% from June 2023.

In the January-June 2024 period, 642.4 million tons of pig iron was produced by the blast furnace method, while 61.64 million tons were produced by the direct reduction method.

India emerged as a major player in the global pig iron market, increasing its production by 5.8% year-on-year to 70.36 million tons. India became the world's second-largest producer, leading the way in terms of production. In contrast, leading producer China's output fell by 3.6% to 435.62 million tons. Other major producers included Japan with 30.65 million tons, the Russian Federation with 30.12 million tons, and South Korea with 21.45 million tons.